Earlier this year, Shunfeng acquired Wuxi Suntech, the core Chinese production unit of fallen PV module powerhouse Suntech.

Shunfeng looks to sell PV manufacturing assets

China’s Shunfeng International Clean Energy, owner of Suntech and US-based cell and module maker Suniva, has taken steps toward a possible sale of its manufacturing assets to property tycoon Kin Ming Cheng, as it shifts its focus to “light asset-based services” in the clean-energy sector.

1 June 2016 13:31 GMT Updated 1 June 2016 13:31 GMT

By Karl Stromsta

Shunfeng informed investors it has entered a non-legally binding memorandum of understanding with Asia-Pacific Investment Management regarding a “possible sale” of its equity interests in Jiangsu Shunfeng Photovoltaic Technology – its solar manufacturing arm – for 5bn yuan ($760m).

Asia-Pacific Investment – owned by Hong Kong property tycoon Kin Ming Cheng – owns Shunfeng’s various companies.

Shunfeng did not specify which manufacturing assets it is looking to sell.

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Shunfeng looks to sell PV manufacturing assets